Soothe Healthcare, a personal hygiene D2C brand, has secured INR 175 Cr ($21 Mn) in a strategic fundraising round led by the US International Development Finance Corporation (DFC) and other current investors.

DFC contributed INR 55 Cr, with the other amount being invested by A91 Partners, Symphony Ventures, Sixth Sense Ventures, and Gulf Islamic Investments (GII).

The financing will be used to expand the startup’s distribution channels and expand its presence into Tier II and Tier III regions. The funds will also be used to strengthen marketing outreach and brand awareness campaigns.

Soothe Healthcare, founded in 2012 by Sahil Dharia, offers a variety of feminine hygiene products, including its flagship product sanitary napkins, intimate washes, and menstruation cups. It began by selling sanitary pads under the ‘Paree’ brand and then expanded into the kids and adult diaper segments.

Sahil Dharia the founder and CEO of Soothe Healthcare Said “Our effort is to facilitate women with high-quality items at a reasonable price. Our value proposition and social impact-driven business approach have enabled Paree Sanitary Pads to establish itself as a trusted personal hygiene brand in India. This new input of funds will enable us to reach women in new regions,”

“We continue to be believers in the commercial opportunities in women’s hygiene and Soothe’s unrelenting commitment on developing a high-quality Indian brand in the area,” said Abhay Panday, General Partner at A91 partners.

Last year, the business claims to have secured INR 230 Cr in investment, including a Series C round of INR 130 Cr from A91 Partners in August. The business claims to have increased its production capacities and introduced additional product verticals since then.

Soothe Healthcare also makes and sells personal hygiene products for women, seniors, and newborns.

Soothe competes in the women’s sanitary pad industry with a slew of global and domestic behemoths like as P&G, Johnson & Johnson, Emami, Mankind, and others. It competes with companies such as Sirona, Nua, and Seeders-backed Sanfe in the general women’s personal hygiene category.

Soothe recorded opening revenue of INR 79.04 Cr in FY21, increasing 145% from INR 32.33 Cr in FY20. While losses were remain constant at INR 35 Cr in both financial years, costs increased by more than 70% to INR 114.23 Cr in FY21 compared to INR 67.14 Cr in FY20.

The massive financing announcement comes at a time when the D2C personal hygiene industry looks to be losing its luster. While there have been few major deals in this category, the D2C industry as a whole has seen large deals and fresh announcements.

ITC acquired an additional 6% investment in the infant and mother care D2C business Mother Sparsh earlier this week for an unknown figure. In October, Hyderabad-based D2C health firm Good Health Company secured $10 million in a Series of an investment headed by Left Lane Capital. Sirona, a Good Glamm Group-backed feminine hygiene firm, entered the women’s safety market in February with the purchase of IMPOWER.

According to a research, the Indian sanitary napkin industry is expected to be worth $618.4 million in 2021 to $1.18 billion by 2027.

The Company:

Soothe Healthcare, founded in 2012 by Sahil Dharia, offers a variety of feminine hygiene products, including its flagship product sanitary napkins, intimate washes, and menstruation cups. It began by selling sanitary pads under the ‘Paree’ brand and then expanded into the kids and adult diaper segments.

Featured Image Credit: Economic Times